Methode Electronics (NYSE:MEI) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Methode Electronics (NYSE:MEI) posted its earnings results on Tuesday. The electronics maker reported $0.79 EPS for the quarter, beating the consensus estimate of $0.76 by $0.03, MarketWatch Earnings reports. Methode Electronics had a return on equity of 15.62% and a net margin of 12.05%. The firm had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $209.05 million. During the same period last year, the firm earned $0.62 EPS. The firm’s revenue was down 20.8% compared to the same quarter last year.

MEI opened at $28.92 on Friday. The firm has a market cap of $1.07 billion, a PE ratio of 9.30 and a beta of 1.30. The company has a quick ratio of 2.06, a current ratio of 3.93 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $31.51 and a 200-day simple moving average of $32.16. Methode Electronics has a fifty-two week low of $21.76 and a fifty-two week high of $41.70.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Thursday, July 16th. Methode Electronics’s dividend payout ratio is presently 14.10%.

Several analysts recently commented on MEI shares. Zacks Investment Research upgraded Methode Electronics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 24th. ValuEngine lowered Methode Electronics from a “sell” rating to a “strong sell” rating in a research note on Monday, May 18th. Craig Hallum increased their price target on Methode Electronics from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Robert W. Baird decreased their price target on Methode Electronics from $43.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Finally, B. Riley lowered Methode Electronics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $42.00 to $24.00 in a research note on Thursday, March 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Methode Electronics presently has a consensus rating of “Hold” and an average price target of $33.00.

About Methode Electronics

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.

Featured Story: Does the Dogs of the Dow strategy work?

Earnings History for Methode Electronics (NYSE:MEI)

Receive News & Ratings for Methode Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics and related companies with MarketBeat.com's FREE daily email newsletter.